MCQOPTIONS
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MCQOPTIONS
This section includes 278 Mcqs, each offering curated multiple-choice questions to sharpen your Basic GK knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Find the difference between total expenditure and total receipts in the budget figures of the Government of India called? |
| A. | Fiscal deficit |
| B. | Revenue deficit |
| C. | Budgetary deficit |
| D. | Current deficit |
| Answer» D. Current deficit | |
| 2. |
What deficit is the largest contributor to the total deficit of the budget of the Government of India? |
| A. | Fiscal deficit |
| B. | Revenue Deficit Income |
| C. | Primary deficit |
| D. | none of these |
| Answer» B. Revenue Deficit Income | |
| 3. |
which of the following direct taxes, does the government receive maximum revenue from? |
| A. | Income Tax |
| B. | tax donation |
| C. | Corporation Tax |
| D. | Wealth Tax |
| Answer» D. Wealth Tax | |
| 4. |
Largest item of expenditure in the current account of the budget of the Central Government is? |
| A. | Defense expenditure |
| B. | interest payment |
| C. | Central Planning |
| D. | none of these |
| Answer» D. none of these | |
| 5. |
Largest producer of cellphones in the world is the country? |
| A. | China |
| B. | America |
| C. | France |
| D. | India |
| Answer» B. America | |
| 6. |
Under which five-year plan was the slogan of Garibi Hatao in India given? |
| A. | 2nd |
| B. | 3rd |
| C. | 5th |
| D. | 10th |
| Answer» D. 10th | |
| 7. |
Which one of the following is not a source of revenue of the Central Government? |
| A. | Agricultural Income Tax |
| B. | excise duty |
| C. | Income Tax |
| D. | Corporate Tax |
| Answer» B. excise duty | |
| 8. |
What is related to the recommendations of the Kelkar Test Force? |
| A. | Foreign investment |
| B. | banking |
| C. | taxes |
| D. | trade |
| Answer» D. trade | |
| 9. |
FERA has been replaced in India by? |
| A. | FETA |
| B. | FENA |
| C. | FEMA |
| D. | FELA |
| Answer» D. FELA | |
| 10. |
In which year did the Foreign Exchange Management Act come into force? |
| A. | 2003 |
| B. | 2002 |
| C. | 2000 |
| D. | 1999 |
| Answer» B. 2002 | |
| 11. |
Which one of the following places is not a free trade zone? |
| A. | Mumbai |
| B. | Visakhapatnam |
| C. | Thiruvananthapuram |
| D. | none of these |
| Answer» D. none of these | |
| 12. |
Where is the Indian Institute of Foreign Trade Located? |
| A. | Hyderabad |
| B. | Mumbai |
| C. | New Delhi |
| D. | Ahmedabad |
| Answer» D. Ahmedabad | |
| 13. |
On which item imports the most foreign exchange is spent by India? |
| A. | Power House Machinery |
| B. | petroleum products |
| C. | Fertilizers |
| D. | Defense Equipment |
| Answer» C. Fertilizers | |
| 14. |
To whom is India's maximum foreign trade? |
| A. | United States of America |
| B. | Thailand |
| C. | Bangladesh |
| D. | Japan |
| Answer» B. Thailand | |
| 15. |
Indian leather is exported the most to whom? |
| A. | Russia |
| B. | France |
| C. | England |
| D. | China |
| Answer» D. China | |
| 16. |
In which year was the Planning Commission constituted in India? |
| A. | 1988 |
| B. | 1950 |
| C. | 1948 |
| D. | 1956 |
| Answer» C. 1948 | |
| 17. |
The writ is issued to enforce Fundamental Rights? |
| A. | the Supreme Court |
| B. | the President |
| C. | Parliament |
| D. | All these |
| Answer» B. the President | |
| 18. |
In which article of the Constitution is the provision for the constitution of the Finance Commission in India described? |
| A. | Article 293 |
| B. | Article 280 |
| C. | Article 264 |
| D. | none of these |
| Answer» C. Article 264 | |
| 19. |
Who was the chairman of the first Finance Commission? |
| A. | K. C. Niyogi |
| B. | Mahavir Tyagi |
| C. | Amrish Bagchi |
| D. | none of these |
| Answer» B. Mahavir Tyagi | |
| 20. |
The ex-officio secretary of the National Development Council is? |
| A. | Secretary General of the Lok Sabha |
| B. | Secretary of the Planning Commission |
| C. | Secretary of the Ministry of Finance |
| D. | none of these |
| Answer» C. Secretary of the Ministry of Finance | |
| 21. |
Chandrasekharan committee is related to? |
| A. | by shares |
| B. | education |
| C. | from space mission |
| D. | from revenue |
| Answer» B. education | |
| 22. |
Which of the following classes of countries does India have the largest import trade? |
| A. | Eastern Europe |
| B. | Developing countries |
| C. | O.P.E.C |
| D. | O.E.C.D |
| Answer» D. O.E.C.D | |
| 23. |
Krishna revolution is related to? |
| A. | edible oil production |
| B. | Krishna Pind |
| C. | Fertilizer production |
| D. | from mineral oil production |
| Answer» E. | |
| 24. |
If articles made in Surat are sold in Mumbai or Delhi, then it is? |
| A. | Territorial Trade |
| B. | internal trade |
| C. | International trade |
| D. | free trade |
| Answer» B. internal trade | |
| 25. |
Narasimham Report is related to the reorganization of |
| A. | Income Tax |
| B. | Banking Institute |
| C. | sales tax |
| D. | Insurance Industry |
| Answer» C. sales tax | |
| 26. |
Gilt alt market is related to? |
| A. | Gold and silver |
| B. | currency note |
| C. | Government securities |
| D. | Letter of credit |
| Answer» B. currency note | |
| 27. |
There is mostly unemployment in India? |
| A. | cyclic |
| B. | Structural |
| C. | Technology |
| D. | Frictional |
| Answer» C. Technology | |
| 28. |
Which state of India has the highest percentage of poor? |
| A. | Orissa |
| B. | Vihar |
| C. | Jharkhand |
| D. | Chhattisgarh |
| Answer» B. Vihar | |
| 29. |
Whose method is used in calculating national income in India? |
| A. | Income Law |
| B. | Origin calculation method |
| C. | Both (A) and (B) |
| D. | None of these |
| Answer» D. None of these | |
| 30. |
What is the Hindu growth rate related to? |
| A. | Population |
| B. | Literacy |
| C. | per capita income |
| D. | National income |
| Answer» E. | |
| 31. |
Who assesses the national income numbers in India? |
| A. | Planning Commission Ministry of Finance |
| B. | Central Statistical Organization |
| C. | Reserve Bank of India |
| D. | Reserve Bank of India |
| Answer» C. Reserve Bank of India | |
| 32. |
The person to be appointed as the chairman of the National Planning Committee was? |
| A. | Jawaharlal Nehru |
| B. | P. C. Mahalanobis |
| C. | Subhas Chandra Bose |
| D. | none of these |
| Answer» B. P. C. Mahalanobis | |
| 33. |
Who prepared the draft of the People's Plan? |
| A. | Sir Ardeshir Dalal |
| B. | Jayaprakash Narayan |
| C. | Shri Manna Narayan |
| D. | M.N. View |
| Answer» E. | |
| 34. |
When was the National Planning Committee established? |
| A. | 1938 |
| B. | 1842 |
| C. | 1947 |
| D. | 1951 |
| Answer» B. 1842 | |
| 35. |
On Which date did economic planning start in India? |
| A. | 1st April 1951 |
| B. | 1st May 1956 |
| C. | 15 August 1947 |
| D. | 26 January 1949 |
| Answer» B. 1st May 1956 | |
| 36. |
Whose responsibility is to prepare the five-year plan? |
| A. | National Development Council |
| B. | Central and State Government |
| C. | Prime Minister's Office |
| D. | Planning Commission |
| Answer» E. | |
| 37. |
Who presents the final draft of the Five Year Plan? |
| A. | Finance Commission |
| B. | National Development Council |
| C. | Ministry of Finance |
| D. | Planning Commission |
| Answer» C. Ministry of Finance | |
| 38. |
When was the concept of planning adopted in India? |
| A. | 1947 |
| B. | 1950 |
| C. | 1952 |
| D. | 1955 |
| Answer» C. 1952 | |
| 39. |
What are the objectives of Indian planning? |
| A. | increase in national income |
| B. | poverty alleviation |
| C. | reducing inequalities in income and wealth |
| D. | All these |
| Answer» E. | |
| 40. |
What is the nature of economic planning in India? |
| A. | decentralized |
| B. | Socialist and Capitalist |
| C. | Instructional |
| D. | All these |
| Answer» E. | |
| 41. |
The largest item of expenditure in the budget of the federal government in recent years has been? |
| A. | Defense expenditure |
| B. | large production |
| C. | Capital Expenditure |
| D. | Payment of interest |
| Answer» E. | |
| 42. |
Non-plan expenditure of the Central Government is not a part of? |
| A. | Defense expenditure |
| B. | Allocation for Science and Technology Development |
| C. | Payment of Delivery |
| D. | interest payment |
| Answer» C. Payment of Delivery | |
| 43. |
Does India get maximum tax income from? |
| A. | from income tax |
| B. | Central Excise |
| C. | Import duty |
| D. | Corporation tax |
| Answer» E. | |
| 44. |
What is the difference between fiscal deficit and budgetary deficit? |
| A. | Public Debt |
| B. | Revenue deficit |
| C. | Depreciation |
| D. | Primary deficit |
| Answer» B. Revenue deficit | |
| 45. |
Which five-year plan shifted its priority from development to defense? |
| A. | 1st |
| B. | 2nd |
| C. | 3rd |
| D. | 4th |
| Answer» E. | |
| 46. |
During which five-year plan period was the Sahayata Club established in India? |
| A. | 2nd |
| B. | 3rd |
| C. | 4th |
| D. | 7th |
| Answer» B. 3rd | |
| 47. |
During which five-year plan three iron-steel plants were set up in the country? |
| A. | 1st |
| B. | 2nd |
| C. | 3rd |
| D. | 4th |
| Answer» C. 3rd | |
| 48. |
On which part the maximum outlay was made in the Second Five Year Plan? |
| A. | Industry |
| B. | Transport and Communication |
| C. | Energy |
| D. | Heavy Industries |
| Answer» C. Energy | |
| 49. |
The strategy for the development and industrialization of industries was a part of which plan? |
| A. | 2nd |
| B. | 3rd |
| C. | 4th |
| D. | 7th |
| Answer» B. 3rd | |
| 50. |
Khadi and Village Industries Commission was established under which five-year plan? |
| A. | 1st |
| B. | 2nd |
| C. | 3rd |
| D. | 4th |
| Answer» C. 3rd | |